Wattula Andy 4

What Happened
Andy Wattula, Chief Operating Officer of Hudson Pacific Properties (HPP), was granted 9,719 LTIP Units (reported as an award/derivative) on 2026-02-16. No purchase price or cash value is reported on the Form 4 (price = N/A). These LTIP Units vested in full on December 31, 2025 and are subject to a mandatory two-year holding period after vesting.

Key Details

• Transaction date: 2026-02-16; Form 4 filed 2026-02-18 (appears timely under the two-business-day filing rule).
• Transaction type: A = Award/Grant of LTIP Units (derivative), 9,719 units; price/value: N/A.
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: LTIP Units are limited partnership units in HPP’s operating partnership; initially not fully pari passu with common units but can convert into Common Units if parity is reached; Common Units are redeemable for cash or shares of common stock.
  • F2: The units were earned based on 2023 operational metrics and relative TSR goals (2023–2025); they vested 12/31/2025 and are subject to a two-year post-vesting holding period (generally cannot be sold during that period).
  • F3: Conversion and redemption rights for LTIP Units do not expire.
• Filing timeliness: Filed two days after the transaction date; the filing appears to be within the usual Form 4 timeframe.

Context: This was an equity award (not an open‑market purchase or sale). LTIP Units are derivative compensation that may be converted into partnership/common units and ultimately redeemed for cash or shares; the mandatory holding period limits immediate liquidity, so this award does not indicate an immediate sale or cashing out.